W&T Offshore (NYSE:WTI) Trading Down 4.4% – Here’s Why

Shares of W&T Offshore, Inc. (NYSE:WTI) traded down 4.4% during trading on Tuesday . The stock traded as low as $3.78 and last traded at $3.7770. 425,733 shares were traded during trading, a decline of 93% from the average session volume of 6,510,670 shares. The stock had previously closed at $3.95.

Analyst Upgrades and Downgrades

WTI has been the subject of several research analyst reports. William Blair initiated coverage on shares of W&T Offshore in a research report on Friday, April 17th. They issued an “outperform” rating for the company. Wall Street Zen upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Zacks Research downgraded shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a research report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

W&T Offshore Trading Up 11.1%

The firm has a market cap of $634.99 million, a P/E ratio of -4.49 and a beta of 0.24. The business’s fifty day moving average price is $3.77 and its two-hundred day moving average price is $2.76.

W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Monday, March 9th. The oil and gas company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). The firm had revenue of $121.71 million for the quarter, compared to analyst estimates of $115.36 million. Research analysts predict that W&T Offshore, Inc. will post -0.12 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, May 21st. W&T Offshore’s dividend payout ratio (DPR) is -4.21%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Deprince Race & Zollo Inc. raised its holdings in W&T Offshore by 16.0% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,502,907 shares of the oil and gas company’s stock worth $2,450,000 after acquiring an additional 206,810 shares during the period. JPMorgan Chase & Co. grew its position in W&T Offshore by 447.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 257,635 shares of the oil and gas company’s stock worth $469,000 after purchasing an additional 210,564 shares during the last quarter. UBS Group AG grew its position in W&T Offshore by 381.1% in the 4th quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company’s stock worth $3,912,000 after purchasing an additional 1,901,213 shares during the last quarter. Dimensional Fund Advisors LP grew its position in W&T Offshore by 47.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 319,286 shares of the oil and gas company’s stock worth $1,090,000 after purchasing an additional 102,022 shares during the last quarter. Finally, Sei Investments Co. grew its position in W&T Offshore by 1,596.5% in the 1st quarter. Sei Investments Co. now owns 297,870 shares of the oil and gas company’s stock worth $1,016,000 after purchasing an additional 280,312 shares during the last quarter. Institutional investors own 42.88% of the company’s stock.

About W&T Offshore

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.